OMNICHANNEL WILL BE KEY FOR 2017 RETAIL GROWTH, SAYS REPORT

Retailers, here’s a heads up: omnichannel retailing will continue to grow in 2017, and will be more pivotal for business development. In a recent Outlook report, finance agency Fitch Ratings found out that the best way retailers can holistically serve their customers in both online and brick-and-mortar mediums is through …

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SALVATORE FERRAGAMO STRENGTHENS ITS BUSINESS IN ASIA

Italian luxury house Salvatore Ferragamo seems bullish about its prospects in Asia. Just recently, the brand announced that it has acquired a 100% stake in four joint-venture companies through its business partner, Trinity Ltd (part of the Hong Kong based Li & Fung group). In a statement, Salvatore Ferragamo claimed that it …

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SWATCH PLANS TO VENTURE INTO ELECTRONIC CAR BATTERIES

Watchmaker Swatch Group has been planning to launch a battery for electric vehicles, with the goal of meeting sales worth $10 to $15 billion by 2020, according to CEO Nick Hayek. The car battery has been developed in collaboration with Belenos Clean Power (where Swatch holds a 51% stake), and the …

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FRANCA SOZZANI, MAGAZINE EDITOR AND STYLE AUTHORITY, PASSES AWAY AT 66

After a year of an unspecified yearlong illness, Franca Sozzani, editor-in-chief of Vogue Italia, passed away yesterday at 66 in Milan. The news was first announced by Jonathan Newhouse, Condé Nast International chairman and chief executive. Immediately, news outlets and social media were filled with articles and tributes to the style …

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KENDRA SCOTT LANDS PRIVATE EQUITY INVESTMENT, COMPANY VALUED AT $1 BILLION

Norwest Venture Partners, a private equity firm based in California, has taken a minority stake in Kendra Scott Design Inc. Although the exact amount of the deal has not been announced, insiders familiar with its details say that it values the company at a whopping $1 billion. The deal has been in …

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SAFILO PARTNERS WITH INTERAXON FOR ‘BRAIN SENSING’ EYEWEAR

Talk about taking wearable technology a notch higher! Eyewear manufacturing group Safilo recently announced its collaboration with Interaxon Inc., a Canadian company that specializes in consumer brain sensing technology, for a potential line of wearable technology called SAFILOX. The partnership covers strategic research and development, as Safilo sees this as an …

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NIKE REVENUES UP, BEATS BRAND EXPECTATIONS

Nike recently released its financial results for its fiscal 2017 second quarter, and the company seems optimistic. Revenues are up 6% to $8.2 billion, synonymous to an 8% growth on a currency neutral basis. According to the company, this is credited to double-digit currency neutral growth in Greater China and Western …

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